TaxTMI 
TaxTMI 
Delhi Police arrests businessman in Rs 5.05 crore loan fraud case
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....elhi Police arrests businessman in Rs 5.05 crore loan fraud case<BR>News and Press Release<BR>Dated:- 2-3-2025<BR>PTI<BR>New Delhi, Mar 2 (PTI) The Economic Offences Wing of the Delhi Police has arres....
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....ted a businessman for allegedly defrauding a non-banking financial company of Rs 5.05 crore through a fraudulent loan obtained against a property in east Delhi, an official said on Sunday. The Econo....
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....mic Offences Wing (EOW) in a statement said that the accused, Mukesh Arora, the director of a private limited company, secured the loan in 2020 by falsely claiming that a property in Preet Vihar, owne....
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....d by his late mother, was free of encumbrances. The investigations, however, revealed that five flats within the property had been sold to a bank in 2005, a fact deliberately concealed. The statem....
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....ent further read that after securing the loan, Arora and his co-borrowers defaulted on EMI payments. Further probe revealed that he misused Rs 1.7 crore from the loan amount for personal purposes de....
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....spite obtaining it in his company's name. Arora, 50, was the director of multiple companies, but he had to shut them down due to financial distress and alleged tax evasion cases. Further investiga....
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....tion is underway, it read. PTI BM AS AS<BR> News - Press release - PIB....